MARKETWISE, INC.

Annual Trend FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash and cash equivalents $862k $139.1m $158.6m $155.2m $97.9m $70.1m
Accounts receivable $12.4m $7.8m $4.0m $4.5m $1.9m $5.7m
Prepaid expenses $329k $13.0m $11.7m $9.3m $10.1m $10.8m
Related party receivables $874k $496k $1.5m $5.2m $547k $838k
Other current assets $1.9m $2.5m $3.4m $2.2m $1.3m $814k
Related party tax receivable agreement liability, noncurrent $0 $2.2m $2.7m $4.3m
Total current assets $1.2m $246.4m $279.2m $267.8m $168.8m $131.7m
Property and equipment, net $1.4m $1.2m $892k $690k $592k $453k
Intangible assets, net $5.3m $8.6m $16.0m $6.3m $4.7m $3.8m
Goodwill $18.1m $23.3m $31.3m $31.0m $30.0m $30.0m
Operating lease right-of-use assets $12.3m $10.9m $9.5m $7.3m $3.2m $6.7m
Deferred contract acquisition costs $42.0m $82.7m $100.0m $91.5m $57.2m $43.4m
Deferred contract acquisition costs, noncurrent $65.2m $120.4m $97.7m $73.4m $42.1m $34.7m
Deferred tax assets $0 $9.0m $7.3m $9.7m $10.1m $11.0m
Trade and other payables $12.0m $4.8m $686k $1.7m $4.3m $4.4m
Deferred revenue and other contract liabilities $278.3m $317.1m $315.2m $287.8m $218.0m $183.8m
Operating lease liabilities $1.1m $1.3m $1.5m $1.4m $1.6m $908k
Other current liabilities $19.6m $24.9m $21.1m $28.0m $13.0m $11.9m
Operating lease liabilities, noncurrent $7.8m $6.9m $5.8m $4.4m $2.7m $5.2m
Total stockholders’ deficit attributable to MarketWise, Inc. $5.0m ($48.5m) ($21.2m) ($11.1m) ($12.5m) ($11.7m)
Total stockholders’ deficit ($405.3m) ($298.4m) ($288.9m) ($217.9m) ($213.6m)
Total assets $415.4m $421.6m $442.5m $396.6m $259.5m $218.4m
Total liabilities and stockholders’ deficit $415.4m $421.6m $442.5m $396.6m $259.5m $218.4m
Accrued expenses $111k $46.5m $46.0m $55.0m $23.3m $33.2m
Deferred revenue and other contract liabilities, noncurrent $254.5m $393.0m $348.3m $304.3m $209.0m $185.8m
Total current liabilities $143k $395.5m $385.5m $373.9m $260.2m $234.2m
Other liabilities, noncurrent $1.3m $746k $2.8m $2.6m
Total liabilities $14.6m $826.8m $740.9m $685.5m $477.4m $432.0m
Commitments and Contingencies (Note 9) $0 $0 $0 $0 $0 $0
Common stock $1k $31k $32k $33k $32k $1k
Preferred stock, par value of $0.0001 per share, 100,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and 2024, respectively 0 0 0 0 0
Additional paid-in capital $5.1m $97.5m $106.9m $115.2m $106.7m $101.9m
Accumulated other comprehensive income ($17k) ($9k) $44k $65k $56k $36k
Accumulated deficit ($140k) ($146.1m) ($128.1m) ($126.3m) ($119.3m) ($113.7m)
Noncontrolling interest ($5.9m) ($356.7m) ($277.2m) ($277.9m) ($205.4m) ($201.9m)